Harmony Signs LOI to Acquire the Kafwego-Mufumbwe Copper Project Zambia

Harmony Gold Corp. (TSXV:H) has signed a Letter of Intent with Montauk Mining and Minerals Ltd. in order to acquire the Kafwego-Mufumbwe Copper Property in Zambia.

As quoted in the press release:

Pursuant to the LOI and in consideration of the payment of U.S.$25,000, Harmony has been granted the sole and exclusive option to acquire up to a one hundred percent (100%) beneficial interest in and to the Property (the “Option”), free and clear of all encumbrances other than the NSR, in consideration of i) issuing MMM or its designates twenty million (20,000,000) common shares in the capital of Harmony; ii) making cash payments of an aggregate U.S.$1,200,000; and iii) completing a two phase work programme on the Property, all in stages as set out below.

Click here to read the Harmony Gold Corp. (TSXV:H) press release